Wells Fargo Seeks to Streamline Enrollment and Set Up of Mobile Payments with Planned HCE App

Published: May 27 2016

Wells Fargo plans to launch mobile payments from its own app using HCE technology this summer, likely becoming the second major U.S. issuer to do so after Capital One. It probably is planning to use tokenization from major payments networks.

NFC Times Exclusive Insight – Wells Fargo’s announcement this week that it plans to launch mobile payments from its own app this summer using host card emulation technology would make it the second major U.S. issuer to offer HCE-enabled service from its own Android app, following Capital One, though Wells Fargo plans to make the payments service part of its mobile-banking app.

Wells Fargo will target about 5 million customers who use Android devices for mobile banking, which represents around 38% of mobile-banking users, a bank spokeswoman told NFC Times. The bank already participates in the three major aggregator Pays wallets in the U.S., Apple Pay, Samsung Pay and Android Pay.

“Rather than having to download a separate app or take a picture of your card, Wells Fargo Wallet for Android is part of the native Wells Fargo app, and Wells Fargo cards can be added with the click of a button,” the spokeswoman told NFC Times.

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